GLNG: Papua LNG FID expected to be delayed until late 2025

The planned Papua LNG project in Papua New Guinea has suffered another delay, with joint partner Santos announcing that a final investment decision (FID) on the project is expected to be pushed back until late 2025.

The Australian energy giant made the announcement during a call between its chief executive Kevin Gallagher and investors discussing the company’s first-half performance.

It marks the latest setback for the project, which is a joint venture between operator TotalEnergies, ExxonMobil, Santos and Japan’s JX Nippon.

The project, which is planned to be constructed 20 km north-west of Port Moresby at Caution Bay on the country’s southern coast at a price tag of $10bn, was initially projected to have FID taken by early 2024. The partners also hoped to see first production achieved by early 2028 at the 5.6mn tonne per year (tpy) facility.